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FCA Enforcement Action: Commerzbank fined £37,805,400 for AML failures

FCA fines Commerzbank London £37,805,400 over anti-money laundering failures Press Releases Published: 17/06/2020 Last updated: 17/06/2020 The FCA has today fined Commerzbank AG (London Branch) £37,805,400 for failing to put adequate anti-money laundering (AML) systems and controls in place between October 2012 and September 2017. Commerzbank London was aware of these weaknesses and failed […]

Hong Kong SFC enforcement action: Southwest Securities fined 5 million HK$ for AML failings

SFC reprimands and fines Southwest Securities (HK) Brokerage Limited $5 million for breaches of anti-money laundering regulatory requirements 18 May 2020 The Securities and Futures Commission (SFC) has reprimanded and fined Southwest Securities (HK) Brokerage Limited (SSBL) $5 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) […]

DFSA Enforcement Action: Le Tresorerie

DFSA Fines La Tresorerie for Serious Failings  23 Apr 2020 Serious and deliberate wrongdoing breached the prohibition against providing money services in or from the DIFC Firm’s activities increased risks of money laundering and endangered client money protections Following a lengthy investigation process, which commenced in 2017, the Dubai Financial […]